The shorts are controlling the market for now but, as mostly happens, they eventually start to run low genuine distressed and panicked sellers to accompany them and help keep price falling. Also when price falls to crazy levels it takes very little for bulls and value investors to jump in out of nowhere and turn price around sharply. SPO has been in a very similar recent situation to CAJ with similar exaggerated price fall following release of negative news. Shorts will need to be very quick to get out and I think could get badly burned any time soon as exit doors quickly slam shut at their price levels. Look at last two days of SPO chart for example.
The shorts are controlling the market for now but, as mostly...
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Last
29.5¢ |
Change
0.005(1.72%) |
Mkt cap ! $309.1M | |||
| Open | High | Low | Value | Volume |
| 29.8¢ | 29.8¢ | 29.5¢ | $22.21K | 74.88K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 132206 | 29.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 30.0¢ | 163647 | 7 |
View Market Depth
| Last trade - 10.21am 08/08/2024 (20 minute delay) ? |
| CAJ (ASX) Chart |